Hogg gets Reuters pension in one lump

SIR Christopher Hogg, the outgoing chairman of Reuters, carried off a £2.26m lump sum on his retirement last year after cashing in his company pension.

Hogg, 68, who chaired the news and financial information group since 1985, a year after it floated, opted for the payout instead of a £141,000-a-year nest egg.

The part-timer, who is married to agony aunt Dr Miriam Stoppard, also collected £218,000 for nine months' work.

A pension is unusual for non-executive directors. Reuters said Hogg was underpaid compared to chairmen of similar groups. Chief executive Tom Glocer's pay package soared 22% to £2.32m after he was awarded his maximum bonus. The company still covers the cost of his London home.

Glocer's programme aimed at turning round the ailing news group has borne fruit. But journalists may strike over the relocation of jobs to India and Thailand.